Let's keep it civil please.
Who's being uncivil? Calm down, alright?
Believe it or not, whether an icon is displayed in the status bar or not is the kind of design decision that Apple employees agonize over.
If they "agonize" over it, yet the icon is still there, it must be because they feel it's important that it is there (and they're right, it is important.) Don't you trust their judgment?
and I think it's a topic at least worthy of discussion.
It's a tiny icon. Just pretend you're not seeing it.
After all, one of the very reasons that people appreciate Apple products is for their steadfast attention to this very kind of detail.
Speak for yourself. I know for sure this is not the reason I've bought Apple products in the past. On the opposite, I tend to get annoyed over their more obsessive traits, which often manifest in silly decisions like not putting a power switch on the Thunderbolt Display or Time Capsule for example, forcing me to crawl under my computer table to yank the power cord instead when the device needs to be power cycled, or the giant size of the iPhone 6 and 6+ in particular just because Apple's design practices enforces a symmetrical front face, making the 6+ much larger than other, comparable 5.5" screen phones.
There's upsides and downsides with everything, and no design is perfect. Only when we buy into the "Apple Cult" mentality (the same which makes Steve Jobs still have an office at Apple HQ, despite the fact the guy's been dead for years now) can we delude ourselves otherwise.
If no one at Apple put "form over function" (a misleading idea that isn't very productive)
Form over function is very real, I assure you. Form over function is - to just mention a very few examples - when you have a mouse with just one button on it, a floppy drive with no physical eject button, or a computer startup screen displaying nothing except the company logo (how to start that bloody disk utility thing again?)
There are some situations when there is not even enough room to display all of the icons in the status bar.
I'll take your word for it, I've never had that happen to me. However, the BT icon is important, so that's why it's there.
Would you mind expanding on why not showing Bluetooth in the status bar would be a serious security threat?
Bluetooth, being 2-way wireless communication, gives an attacker a potential entryway into your device. There's been a number of flaws and weaknesses associated with bluetooth in the past that allowed unauthorized access, and chances are we'll see more in the future too.
An employer which mandates highest possible security would just turn BT off as a matter of principle, to reduce the number of possible headaches by one in one easy, swift stroke. If the icon didn't display, BT could still be on without you knowing it. An attacker having access to your phone could toggle that switch without your knowledge (or you might do it yourself and forget about it), and would later be able to tap into your device at leisure from a distance.